Early Monetarism in the UK

Abstract

Monetarism in its modern form first came to prominence in the UK in the early 1970s after Harry Johnson (London School of Economics and Chicago), David Laidler (Essex), Bob Nobay (LSE and Southampton) and Michael Parkin (Essex) decided in 1967 to organise a conference to commemorate the tenth anniversary of the Radcliffe Report (1959) on the workings of the UK monetary system. The conference was held in Hove in 1969, its proceedings being published in Money in Britain (Croome and Johnson 1970). Among other things it was decided to form a discussion group called the Money Study Group. Funding was obtained from the Social Sciences Research Council, renamed the Economic and Social Sciences Research Council in 1984. Other conferences followed the one in Hove. A second was held in Sheffield in September 1970, the proceedings of which were published in Monetary Theory and Monetary Policy in the 1970s (Clayton et al. 1971). A third was held in London in January 1971 and the proceedings published in The Current Inflation (Johnson and Nobay 1971).KeywordsMonetary PolicyPrime MinisterBusiness SchoolInternational FinanceFinancial EconThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.